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20130101
20130131
STATION
SFGTV 4
LANGUAGE
Search Results 0 to 3 of about 4 (some duplicates have been removed)
SFGTV
Jan 28, 2013 3:00pm PST
. next speaker. >> good afternoon, supervisors. my name is stacy, and i'm here to tell you what this condo bypass means to me and my family. eight years ago i scraped together everything i had and purchased my first apartment. it was a tenancy in common. it was an exciting time and as a single woman i was proud to be a san francisco homeowner. i've had a baby and this is blake, eight weeks old. he currently sleeps in our closet because we have a one bedroom with no room for a nursery. when i look to the future and he's a toddler i don't see many options for us. we can't count on the severely backlogged lottery and if our -- we could go into foreclosure. because our home value is depressed we would lose our nest egg. i have no idea what we are going to do. when i bought my place the city estimated the lottery would take five years. today that estimate is roughly 20 years. my family is suffering. i represent a voice in san francisco that needs to be heard. t.i.c. owners are not the evil people that the tenants union paints us to be. i'm not a million ai. i am not a millionaire. we
SFGTV
Jan 28, 2013 4:00pm PST
, iris, martis, gran, stacy, kevin, rose, and beth palmer. next speaker. >> thank you. my name is -- i'm a district 8 t.i.c. owner. i purchased a three unit t.i.c. in 2007, with a 20% downpayment. i lived with my wife and two children. since the peak of the market there's been a dynamic change in the financial lending practices of banks in the bay area that i believe is quite unfair. right now, we have tried to sell one of the three units in our building twice, with no success, due to the inability to refinance. additionally, my partner and i have tried to refinance our property twice in the past year and a half. both times being denied. the reason that we are being denied, our mortgage is the fact that many banks right now, we have approached three banks in the bay area, to refinance our house. they required 30% down and above market rates of about 5 to 6% mortgage rate onable basis. what that is telling the marketplace and people like myself who want to live in the city that t.i.c.s are actually an inaffordable option requiring 30% down versus a condominium or typical house requiring
Search Results 0 to 3 of about 4 (some duplicates have been removed)